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Archive: 19 June 2011

Posts in 19 June 2011

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6141 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

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Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Assessee not entitled to benefit of s 220(7), wherein the income which arisen in Russia but not been brought in India and remitted to third country despite there been no restriction on remittance to India

June 19, 2011 1346 Views 0 comment Print

Delhi High Court judgment on Writ Petition No. 328, 340/2010 – Ravina and Associates vs CIT. Stay on recovery of tax demand. Key details here.

Where the amount was advanced due to the business exigencies as per agreement executed between the parties, it cannot be considered as deemed dividend

June 19, 2011 901 Views 0 comment Print

Land Development vs ITO: ITAT Delhi dismisses Revenue’s appeal on deemed dividend, upholding CIT(A)’s order vacating demand for FY 2005-06 & 2007-08.

Whether disallowance is warranted for the freight and cartage expenses incurred in cash without rejecting the books of account only on the basis of surmises and presumptions?

June 19, 2011 4233 Views 0 comment Print

Just because of vouchers being doubted by the AO and not coming to correct conclusions on them, as he has resorted to only arbitrations in so far as he has presumed the rates of loading and unloading charges without bringing any material on record in support of them. The ld.AR has sufficiently clarified that fluctuation in cartage is always involved due to time factor, urgency of material, varying waiting time in process for labour which has to be necessarily paid accordingly. It is not the straight-jacket or fixed rate on which any freight or cartage is to be paid according to the assessee’s whims or the AO’s whims. It is determined by the market fluctuations and contingencies. Therefore, the AO was not justified when all the expenses were fully supported by vouchers and other relevant details and evidences. The addition has been worked purely on assumptions and presumptions and surmises. Therefore both on law and facts, the addition of Rs.8,87,257/- has no merits and stands deleted. ACIT, Faridabad Vs M/s Presco Mec Autocomp Pvt Ltd

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